Postage cost on Stamps.com how do you track for income tax?

[musicyouneed]

Hi I just purchased $10 USD worth of stamps on Stamps.com as I am going to be using Chitchat for my US shipping.  I declare all my income and expenses for income tax purposes.  I also sent my first parcel first class USPS today. 

Up till now, I buy Canada post shipping either in a postal outlet or paypal and have a receipt and declare it when I buy it.  With USPS, today I used $2.60USD and have 7.40USD left, which I am sure will get used up by the end of the month. 

Any ideas on how I declare it and when?

Thanks.

[momcqueen]

Declare what? As an expense for tax purposes?

ChitChat is doing the exporting for you. You don't declare it at the border, I'm sure the company has some kind of prices for you to follow.

[musicyouneed]

For income tax.  When I do my 2016 taxes, I run a business so I have expenses and deductions.

[momcqueen]

Well, yes. But I don't understand your question. Convert the spending in USD to CAD and add it to your postage costs for the month.

[musicyouneed]

Do I add the $10 USD (I might not use it this month) or the $2.60 USD

[momcqueen]

I don't think that matters as much as it does that you claim it.

[momcqueen]

Or rather that you claim it only once and can show which parcels were mailed with it if queried.

[momcqueen]

But which month you post it to shouldn't matter so long as you are consistent

[momcqueen · Accepted solution]

Look at it this way. You buy boxes or shipping supplies all at once, right? You add that to the expenses of the month in which you made the purchase, you don't piecemeal it to each day you use a box.